Notice regarding State Farm California Personal Property Depreciation Decision
Since this lawsuit was filed, State Farm has changed its claim adjustment practices. State Farm now asks policyholders who make a personal property claim to rate the condition of each item of lost or damaged personal property they claim. State Farm then factors condition into its calculation of depreciation. The full text of the Court’s Decision is available at statefarmpersonalpropertysettlement.com. The case regarding State Farm’s method of depreciating personal property in California was tried in Santa Clara County Superior Court in November and December of 2015. After hearing the evidence and arguments presented by both sides, the Court issued its decision on April 20, 2016. The Court held that for certain claims State Farm did not calculate depreciation according to the requirements of California law and also failed to adequately notify its policyholders, in writing, of the basis or reasoning for its calculation of depreciation.